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RHHBY

SRPT

The FDA has fast-tracked the review of Sarepta Therapeutics' muscular dystrophy treatment, Elevidys, with a review goal date set for June 21, 2024. This move could potentially expand Elevidys' indication and convert its approval from accelerated to traditional, aiming for a $1B market. Sarepta, in collaboration with Roche Holdings, is working towards regulatory approval and commercialization in the U.S. and globally, respectively. Analysts see the approval as a significant milestone for Duchenne patients, potentially expanding the treatment's application and market.

Portfolio Pulse from Vandana Singh

February 16, 2024 | 6:08 pm

DKNG

FLUT

DraftKings Inc (NASDAQ:DKNG) reported strong Q4 financial results and announced the acquisition of Jackpocket, a move praised by analysts for potential cross-sell opportunities and user base expansion. Analysts from BMO Capital, Stifel, Oppenheimer, Needham, JMP Securities, Truist, and Benchmark provided positive outlooks, raising price targets and highlighting DraftKings' growth prospects, especially in light of new state legalizations and the Jackpocket acquisition. Flutter Entertainment (NYSE:FLUT) was also mentioned as a key competitor in the sports betting sector.

Portfolio Pulse from Chris Katje

February 16, 2024 | 6:01 pm

DIS

PENN

PENN Entertainment Inc (NASDAQ:PENN) reported Q4 financial results, with analysts focusing on the future growth of ESPN Bet. Analysts from Macquarie, Needham, Stifel, and JMP Securities provided insights, highlighting the high investment levels and losses in the digital segment but also noting the potential for future growth and market share gains. The integration of ESPN Bet with ESPN, licensed from Walt Disney Co (NYSE:DIS), is seen as a positive step. PENN shares have seen a decline, reflecting investor concerns and the high costs associated with the ESPN Bet launch.

Portfolio Pulse from Chris Katje

February 16, 2024 | 5:43 pm

AMZN

COST

ROKU

Roku Inc (NASDAQ:ROKU) stock fell over 22% following a cautionary outlook for the year, despite beating Q4 financial expectations. Analysts have mixed views, with some maintaining positive ratings but adjusting price targets downward due to concerns over platform growth and operating costs. Roku's expansion into the high-end TV market and partnerships with Costco (NYSE:COST) and Amazon (NASDAQ:AMZN) for device sales distribution were highlighted.

Portfolio Pulse from Surbhi Jain

February 16, 2024 | 5:25 pm

TTI

XOM

Exxon Mobil Corp (NYSE:XOM) has announced its plans to launch a lithium operation in Arkansas, aiming to produce lithium for one million electric vehicles per year by 2030 using direct lithium extraction (DLE) technology. This initiative, part of Exxon's energy transition strategy, is in partnership with Tetra Technologies (NYSE:TTI), leveraging their patented technology. The project promises environmental benefits and aims to position Arkansas as a key player in the domestic lithium industry.

Portfolio Pulse from Stjepan Kalinic

February 16, 2024 | 4:45 pm

DIS

GOOG

NFLX

ROKU

Roku, Inc. (NASDAQ:ROKU) stock fell after reporting Q4 results with higher revenue but a larger EPS loss than expected. Despite beating revenue forecasts, its EPS loss of $(0.55) was below the expected $(0.54). Roku anticipates Q1 revenue above consensus, added 4.2 million net accounts, but saw a 4% decrease in average revenue per user. Analyst Jason Helfstein downgraded Roku to Perform. Roku introduced premium TVs and partnered with GroupM for ad buying. Its success is partly tied to Netflix's ad-supported tier expansion.

Portfolio Pulse from Anusuya Lahiri

February 16, 2024 | 4:34 pm

IDAI

Trust Stamp (NASDAQ:IDAI), a provider of AI-powered trust and identity services, has been recognized by the Federal Reserve as a Fraud Mitigation Service Provider for synthetic identity fraud. This recognition follows their participation in a call for participation by the Federal Reserve in September 2022. Trust Stamp serves nearly fifty US banks and is involved in the ICBA ThinkTECH Accelerator, emphasizing the importance of combating synthetic identity fraud for their clients. The company's technology aims to address the challenges posed by Trojans to third-party device-based biometric solutions.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 4:27 pm

ATHM

BIDU

CANG

CVNA

KXIN

Autohome Inc. (ATHM) reported a 4% increase in net profit to 1.88 billion yuan for the last year, with sales of new energy vehicles (NEVs) soaring by nearly 82%. The company's collaboration with Baidu (BIDU) on artificial intelligence and big data aims to enhance its service offerings. Despite rising costs, Autohome's strategic investments and focus on NEVs and the used car market are positioning it for growth. Its P/S ratio significantly exceeds that of peers Cango (CANG), Kaixin Auto (KXIN), and Carvana (CVNA), indicating strong investor confidence.

Portfolio Pulse from The Bamboo Works

February 16, 2024 | 3:51 pm

SBSW

Sibanye-Stillwater (NYSE:SBSW) is exploring new applications for palladium in the hydrogen market as demand from the automotive sector decreases due to the shift towards electric vehicles. The company, facing a decline in palladium prices and industry layoffs, has formed a joint venture with Heraeus Precious Metals to innovate in hydrogen applications, aiming to reduce costs and dependence on scarce materials like iridium.

Portfolio Pulse from Stjepan Kalinic

February 16, 2024 | 3:01 pm

CMCSA

PARA

Paramount is reportedly in discussions with Comcast about a potential streaming deal as it explores various strategic options. This move indicates Paramount's efforts to strengthen its position in the competitive streaming market.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 2:55 pm